In an effort to support local production and dilute the effects of COVID-19 on the Egyptian economy, the government launched a campaign titled “Not Expensive For You” aiming to boost economic activity in the country.
1- The campaign was launched by the government in July to counter the negative economic effects that came with COVID-19 pandemic and to boost GDP growth during Q1 of fiscal year 20/21.
2- The goal is to promote the purchase of local products, thus increasing demand from local factories and industries which will increase their production and create more employment opportunities.
3- The government, along with financing companies spent EGP 10 billion on the campaign and forecasted that the amount that will be spent on the campaign’s products would be around EGP 120 billion.
4- The campaign doesn’t cover food products; however, it applies to appliances, clothes, furniture and crafts totaling up to more than 4000 products.
5- The material used for the products under the campaign have to be at least 25% local material.
6- The products are available on the campaign’s website (https://www.mobadra.gov.eg/) and can be e-purchased there.
7- Merchants are already welcoming the idea and more than 1000 of them registered with EFCC (Egyptian chambers of commerce) as well as EFI (Egyptian Federation of Industries) and started selling the products.
8- Several banks and finance companies are taking part in the campaign by facilitating loans and supporting payment in installments; these include: National Bank of Egypt, Banque du Caire, Banque Misr, CIB, Nasser social Bank, Aman and VaIU.